The Solana Saga telephone, which was beforehand having bother discovering a purchaser, has had a outstanding turnaround this week, with units promoting for as excessive as $5,000 on the net market Ebay—a pointy rise above its earlier summer time markdown.
The principle reason behind this sharp change of demand, which occurred after critics labeled the telephone a “failure,” is the meteoric rise of the Solana-based meme coin BONK, which has seen a rise in worth of over 10,000% during the last two months.
Solana Saga Telephones Soar With BONK Airdrop
Gross sales of Solana Saga telephones elevated final week because of sure arbitrage merchants seemingly pursuing an airdrop of 30 million BONK tokens, which is distributed to all telephone homeowners. In peak worth final week, the airdrop was greater than $700 for a $599 telephone.
Saga is a blockchain-capable smartphone that provides distinctive capabilities for safely storing cryptocurrency on the machine’s inside parts.
The Saga is SOLD OUT!
Phrases can’t describe how a lot we respect your assist. We’re nothing with out this superb neighborhood 🫂
Whereas these previous few days will probably be cemented in our historical past, we’re excited for the long run 🫡
Keep tuned ✨ pic.twitter.com/KJje8lBDLL
— Solana Cellular 🌱 (@solanamobile) December 16, 2023
Two unopened, in-box telephones have been offered for $5,000 or “greatest provide,” based on a Dec. 16 itemizing on the net market eBay, whereas one other handset offered for $3,316 or “greatest provide.”
The $1,000 Saga telephone, which debuted earlier this yr, had unsatisfactory gross sales and an unclear future. Anatoly Yakovenko, the founding father of Solana, had beforehand acknowledged that Saga’s future was doubtful as a result of its underwhelming gross sales outcomes.
Nonetheless, the narrative has shifted as a result of newest BONK hysteria. Blockchain customers adopted the dog-themed BONK early in November, and it shortly grew to become in style, rising as excessive as 110% in a single day and reaching over 700% in a 30-day span.
SOL market cap presently at $32.31 billion. Chart: TradingView.com
That appeared to enhance the Saga telephone’s scenario, as its poor gross sales had earlier raised doubts about its future.
Each new Saga telephone comes with a 30-million BONK token airdrop, which merchants and followers observed final week. The worth of the airdrop outweighed the value of the telephone as BONK’s worth surged, leading to an unanticipated sell-out of the Saga telephones on the official web site.
Saga Gross sales Skyrocket, Discord Erupts
On Thursday, new customers who claimed to have simply bought the telephone and needed to obtain the airdrop brought on the Saga Discord server to explode. Posts on the Discord server state that customers who obtain the BONK app from Saga’s crypto-forward customized app retailer are eligible for the BONK airdrop.
Saga gross sales have surged over tenfold within the final 48 hours, and they’re presently poised to be fully offered out earlier than the brand new yr, based on a noon Thursday publish by Solana co-founder Raj Gokal on X.
lol. simply so everyone seems to be conscious, @solanamobile saga gross sales have >10x’d previously 48 hours, and are actually on observe to promote out earlier than the brand new yr.https://t.co/SzKht4DTYL
— raj 🖤 (@rajgokal) December 14, 2023
The numerous improve in gross sales is noteworthy to the extent that Anatoly Yakovenko, Gokal’s counterpart, took to Twitter to precise the necessity for a worth adjustment.
Because of the latest bulletins of airdrops and different money incentives for machine customers by many Solana-based initiatives, it seems that telephone homeowners is probably not putting all of their cash on the value of BONK.
true, solend is engaged on an airdrop for saga homeowners 👀 https://t.co/1EnphaJV5J
— Rooter | Solend (@0xrooter) December 16, 2023
The pseudonymous creator of the decentralized finance protocol, Solend, said on December 17 on X (beforehand Twitter) that the corporate can be engaged on an airdrop for Saga telephone homeowners.
🚨 WHERE MY $SOL SAGA FAMO AT?! 🚨
Sure, it’s TRUE! #Solana Saga Holders are going to get airdropped $SAMO! 🐶🪂
We hope you bought your paws on one earlier than it was too late…
DETAILS COMING SOON. 🙌 pic.twitter.com/yePhuOfoqM
— Samoyedcoin (SAMO) (@samoyedcoin) December 16, 2023
Additional info on the upcoming airdrop for Saga holders is “coming shortly,” based on Samoyed Coin (SAMO), a fellow memecoin initiative.
Featured picture from Shutterstock
